By BR Web Desk
The Board of Directors of Chashma Sugar Mills Limited (CHAS), one of the largest sugar mills in the country, has approved the amalgamation of the company with its wholly-owned subsidiary, Ultimate Whole Foods (Private) Limited.
The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday.
鈥淲e are pleased to inform that the Board of Directors has approved the 鈥渟cheme鈥 of amalgamation with the company鈥檚 wholly-owned subsidiary, Ultimate Whole Foods (Private) Limited.
鈥淭he amalgamation application containing scheme of amalgamation has been submitted to the Securities and Exchange Commission of Pakistan (SECP) for approval, and the amalgamation process has formally commenced,鈥 read the notice.
Chashma Sugar Mills to set up ethanol manufacturing facility
The company shared that the proposed effective date of the amalgamation is June 10, 2025.
鈥淭his strategic move is expected to streamline operations, improve administrative efficiency and strengthen the gr